It can be very exciting when you are
about to make your move in purchasing your very own home. There are of
course some factors that would have to be considered before you make
your move. This is a huge investment and like all other investments, you
need to check and review the details of the home you have your eye on.
The very first thing is to assure that you are offered the market price.
This means that you would have to do your own research in order to find
whether you are getting a fair price on your home. Check the going
rates of the other homes in that area that is comparable to the ones you
are trying to get. There are third party websites that would help you
do this easier.

This time you need to make sure that you
are aware of how much you can actually afford. Rarely do we find
homeowners who would acquire their home in cash or immediately make full
payment. You can start off my determining your own disposable income.
This may be tedious if you think about it but it will definitely help
you decide on how high you can go if you do make an offer for the house.
It would also help if you can include into the computation the other
costs that will come with the purchase of the house. This would usually
include the insurance, tax and others. This should give you the final
numbers on what you can expect to spend on a monthly basis. This will
then be easier to set against your monthly income. It would also be best
if you can take advantage of mortgage insurance. I understand that it
costs more but it will save you from losing your home in case you lose
your source of income along the way. Do not forget that this is going to
be a longer term commitment and you may not know what could happen
along the way.

The common tip is to allocate around 27%
to 29% of your monthly income into the home cost. If you go beyond this
then you are risking you are very own cash flow in a monthly basis. It
is not like you can just suck it up because as mentioned, this can go
for a couple of years and you might risk losing more than the home if
you are not careful. If you are not really well versed with the entirety
of realty and its dynamics, feel free to talk to a real-estate agent.
They do this for a living so they pretty much know whatever there is to
know about the decision you are going to make. We all know that this can
be a great investment but you have to look into the other possible
costs that you may incur. Provided that you are able to set aside enough
money for the house maintenance but in the long run you may encounter
some costs you have not come prepared for like repairs and what not. You
have to make sure that you evaluate your decision thoroughly.

You won’t really know what could happen
in the near future. You should at least have an idea of how to go about
protecting your precious investment… your home. The only way to go about
this is your homeowners insurance. If you just got your home through
mortgage or a loan, you may be required to take advantage of the loan
right off the bat. This is usually the case for most people that they
only think of insurance when they are driven to the wall. This should
not be the case because this is a form of protection that we all get in
case something undesirable happens. Trying to get a house repair
underway no matter how small it is will definitely be expensive.

Getting homeowners insurance quotes
for your home depending on your coverage should save you hundreds or
even thousands of dollars if you get the right coverage for your home.
You would of course need to make an effort to study the things that
could possibly affect your home so you do not really go over the line by
going for the most comprehensive policy (unless you can afford it of
course). For the most basic type of HOI, it will already cover the more
basic perils that you home may encounter. It would be important to make
sure that you do some research on your end on what you are going to
need. We may not know what is going to happen but at least we can work
out the things that are more likely to happen. For instance, we may not
really require coverage against winter damage when we live in Florida.

If you require something a bit more
comprehensive then you can check out those that go higher beyond HOI1.
It will all boil down to the company you have your eye on and the budget
you are willing to spend on a monthly basis. This is why it is
important to evaluate your disposable income so you can come up with the
more appropriate coverage for your insurance needs for your home. This
is not really rocket science. All you have to do is know what you want
or need. You can then set this against your budget and you have your
homeowners insurance.

The usual step is to make sure that you
start your search with the bigger names in insurance. This way you would
be able to secure the name as part of your investment. It is a common
story for a company to go under and leave their policy holders high and
dry. I am sure you would not want to be a part of a bad statistic that
is why it is imperative that you actually find one that has experience
to work to your advantage. On the other hand, it would also help if you
can also look into smaller private companies that would be able to
provide you with the coverage which are more flexible. All you have to
do then is decide which one is more important for you.

Do you need cheap home insurance? Receive affordable quotes
from the best home insurance companies by entering your zip code into
the comparison tool at the top.If new homeowners are not required by their mortgage companies to
purchase home insurance, they may feel that this purchase is a little
burdensome. Although it’s not likely that people will need to rebuild
their homes, homeowners insurance is something that people will be
extremely happy that they have if they ever need to file a claim. For
example, their insurance policies will rebuild their homes if these
structures are ever destroyed by a covered peril. Without an insurance
policy, homeowners would need to cover this expense on their own.

The Liability Portion of a Home Insurance Policy

Home insurance covers people in many other circumstances than just
the above-mentioned scenario. For example, if guests to the property are
injured, they will have the right to sue the homeowners for payment of
their medical bills. Homeowners can add liability coverage to their home
insurance policies for instances such as the one described here.Liability coverage will apply in the event that the homeowners are
found to be liable for the guests’ injuries. They will be able to access
their coverage to help them pay their legal bills as well as the amount
of money they will be required to pay the injured parties.

Other Structures Included in the Policy

As was mentioned above, part of a homeowners insurance policy is
designated toward the physical structure of the house. If there are
other buildings on the property, such as a barn or a detached garage,
homeowners can also ensure that their policies cover these structures as
well.

The Actual Cash Value or the Replacement Value

When homeowners purchase their policies, they will be able to decide
between the actual cash value and the replacement value. The actual cash
value takes depreciation into consideration. If homeowners choose to
accept the actual cash value, the company will subtract the depreciation
from the amount of money that the property was worth.If, on the other hand, homeowners choose the replacement value, the
company will not subtract the depreciation. They will receive the amount
of money they will need to rebuild the house as it was before it was
destroyed. However, choosing the replacement value will mean that the
policy will be more expensive.

Liability, Property and Contents in One Policy

The homeowners insurance policy can also cover items within the home.
These items include the furniture, the appliances, the homeowners’
clothing and other personal possessions. Luckily, the best home
insurance companies offer all three types of home insurance coverage in
one policy.

What Determines the Cost of a Home Insurance Policy?

The cost of a homeowners insurance policy will depend on how much
coverage homeowners decide to purchase. For example, they may need their
liability limits to be very high if they are at a particularly high
risk of being the subject of a lawsuit. However, insurance companies
also set their clients’ rates based on the area in which these
homeowners live. Homeowners who live in an area where there have been
many claims filed due to a natural disaster that often occurs will be
charged a higher premium for their coverage.

How Homeowners Can Lower Their Rates

The losses described above are possibilities for every homeowner, so
it is clear that homeowners insurance is a wise choice for people to
make even if they are not being forced to purchase it. Increasing the
limits and buying a maximum amount of coverage may also be a good idea
for homeowners, but purchasing extra coverage at higher limits makes the
policy more expensive.In the event that homeowners need to increase their coverage, they
would do themselves a disservice if they did not perform a home
insurance rates comparison. This strategy is also a very good idea for
those who need minimal coverage because no one needs to pay more for
their home insurance coverage than they have to. Obtaining several home
insurance quotes ensures that this will not be necessary.

Why Online Comparison Is the Best

Shopping around definitely helps people save money, but people
neglect to do this because it is so time-consuming. This will only be
the case if they are not obtaining their home insurance quotes online.
An online home insurance rates comparison makes it so much easier
because homeowners don’t have to contact each company individually
before they receive a rate quote.An online search offers them several quotes from several different
companies in a matter of minutes. If they were to search manually or ask
all of their family and friends for recommendations, they could never
complete this work in minutes. Rather, it would take them several days,
if not weeks.

Other Ways to Lower Home Insurance Premiums

Higher deductibles lower the insurance company’s risk, and they
entitle the homeowners to lower premiums. If your house is able to
withstand a natural disaster without incurring an extreme amount of
damage, the insurance companies are more likely to lower the premiums.
Installing devices such as smoke detectors, sprinklers and dead bolts
will reduce the damage from a fire, prevent break-ins and lower the cost
of insurance.

Typical Discounts for Home Insurance Customers

Just like with auto insurance, companies offer discounts to their
clients for their homeowners insurance coverage. If they purchase their
auto insurance from the same company that they have their home insurance
policies, they will receive a multi-policy discount. Retired people can
receive a discount because they are home more often and are less likely
to be burglarized. Those who are working for companies that are
offering group coverage will be able to obtain a discount for being part
of the group.Home insurance is important for every homeowner as well as those who
are renting. To keep the cost of this valuable coverage from being
exorbitant, homeowners can begin with comparing the quotes they receive
from several insurance companies. When they perform this search online,
they don’t have to do any of the work. The comparison tool does it all
for them, and they find home insurance for the most advantageous rates.

Benefits of SBI Life Annuity Plus:

Life Insurance is a huge sector & fastest growing organization
that posses people from different background & needs. Some people
want a fully fledged insurance plan providing maximum possible benefits
(irrespective of premium value amount) but other wants just a low budget
Life Insurance to secure their future.Therefore according to the needs of customer, pans are generated and
there are a lot of cheap and low cost life insurances provided by
leading insurance companies in India.Do you want a Low cost Life Insurance?

Go for Term Insurance instead of whole life insurance. Term Insurance also saves a lot of taxes.

Do not buy too much cover or bigger payout and long duration term insurance.

Go for guaranteed premiums & not for reviewable- It will lead to cheaper insurance policy.

Opt for joint Life Insurance policy as a single joint life insurance is cheaper than two single policies.

Some popular low cost Life Insurance in India1. SBI Life- Saral ShieldAffordable cost Life Insurance cover for your family to provide wide varieties of plan options for plan flexibility.2. SBI Life- Smart Income Shield InsuranceA plan that provides insurance cover against death & critical
illness to your family along with an income benefit to fulfill family
needs.3. SBI Life- SwadhanIt is a protection plan developed to provide safety to your family at
a low cost as well as guaranteed repayment of partial/full basic
premium at the maturity of policy to policy holder.4. SBI Life- Grameen BimaVery low premium based policy, especially developed for socially
deprived & financially weaker section of society to secure their
future & fulfill their needs.5. Birla Sun Life Insurance premium back term planIt provides Life Insurance cover at marginal premiums & secures future of your family.

Level Cover and Level Cover with Accidental Death Benefit: Effective Sum Assured on any day is equal to the Basic Sum Assured.

•

Increasing Cover and Increasing Cover with Accidental Death Benefit : Effective
Sum Assured on any day will be the Basic sum assured increased at the
rate of 10% simple interest after every 5th policy year without
increasing the premium.

Benefits:

•

On Death:

•

Depending upon the Plan option chosen, the nominee will receive the Effective sum assured at the time of death.

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Death benefit will be paid provided all regular premiums are paid and the policy is in force as on the date of claim.

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On Maturity: No survival benefit available at the end of the term.

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Other Benefits:

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Accidental Death Benefit: Inbuilt under plan options – Level Cover with Accidental Death Benefit and Increasing Cover with Accidental Death Benefit.

•

In case one of the above plan options is chosen, then
in case of death of the life assured due to accident during the policy
term, Accidental Death Benefit will be paid to the beneficiary in
addition to the effective sum assured at the time of death.

•

The Accidental Death Benefit will be equal to the Basic sum assured or Rs. 50 Lakhs whichever is lower.

•

Tax Benefits:

•

Tax deduction under Section 80(C) is available.
However in case the premium paid during the financial year, exceeds 10%
of the sum assured, the benefit will be limited up to 10% of the sum
assured.

•

Tax exemption under Section 10(10D) is available,
subject to the premium not exceeding 10% of the sum assured in any of
the years during the term of the policy.

* Tax benefits are as per the Income Tax laws &
are subject to change from time to time. Please consult your tax
advisor for details. These are only the brief features of the plan. For
more details on risk factors, terms and conditions please read the sales
brochure carefully.

Life
insurance policy provides you assurance that your family will get
financial security and support even when you are not around. This is the
best way where the insured person can save his family from financial
crisis at the time of any mishappening or after death, but prior to this
it’s necessary to compare best life insurance policies offered by
different companies, necessary compare contract terms, cost, premium
quotes, limitations and benefits.

With a population of over one Billion, only 35 million people in
India are covered with life insurance. There are so many reasons behind
this low penetration of life insurance. Undoubtedly, ignorance about
insurance, lack of knowledge about facilities and cost efficiency of
insurance - are some of the reasons.